Proposal #434

Add FTM to the list of Major category assets

Exec Legacy Content
passed
Expected result
Passed
Turnout / Quorum
58.06% / 20.00%

Voting period

Voting ended100.0%
Voting start 2023.02.15 at 13:18:15
Voting end 2023.02.20 at 13:18:15

Vote distribution

78.65%
94 670 804 osmo
Yes
1.28%
1 544 387 osmo
No
0.05%
57 375 osmo
Veto
20.02%
24 101 400 osmo
Abstain

Details

logo
Proposer
-
Total deposit
1 600 osmo
Submit time
2023.02.15 at 12:57:16
Deposit end time
2023.03.01 at 12:57:16

Description

This proposal would add FTM to the list of assets that Osmosis recognises as strategically important for growth, increasing the incentives allocated to it.\n\n## Details\nFTM is currently the rank 42 cryptocurrency by marketcap with a valuation of around $1.5 Billion, 3 times higher than Osmosis. wFTM is the wrapped version of this able to be used across Fantom DeFi, for the purposes of bridged assets to other chains these are treated the same on Osmosis.\n\nThe majority of trade volume happens on alternative decentralised exchanges for wFTM and centralised exchanges for FTM, not on Osmosis.\n\nThis proposal asks if Osmosis has a strategic interest in attracting more liquidity of FTM and so will enable it to access a greater proportion of liquidity incentives.\n\n## About Fantom\nFantom is a high-performance, scalable, EVM-compatible, and secure smart-contract platform. Fantom’s mainnet deployment—Fantom Opera—is built on Fantom’s consensus mechanism, Lachesis. Fantom is a leaderless, asynchronous, and byzantine fault-tolerant Layer 1 blockchain protocol.\n\nLachesis enables Fantom to deliver fast transaction speeds, low transaction costs, and deterministic finality. This is achieved while remaining permissionless, decentralized, and open-source.\n\nFTM is currently provided on Osmosis via the Axelar bridge.\n\nWebsite: https://fantom.foundation/\n\nCommonwealth Thread: https://gov.osmosis.zone/discussion/9921-fantom-incentives

Votes

Voter
Answer